Not long ago, Vietnam was not a country that enjoyed the attention of tourists, and no one made investments here. But today the situation has seriously changed, and today’s Vietnam is demonstrating high growth rates with its rapidly developing economy and has become attractive to all.
The flow of people wishing to get acquainted with the country and its beauties has grown significantly, and among the guests, there are many fans of gambling. Therefore, the construction and development of the casino would be a great help both for filling the budget and for new tourist arrivals.
Now the Vietnamese authorities are making a lot of efforts in this regard. It is assumed that the development of the tourism industry will receive additional impetus due to the construction of a casino and the cultivation of a game of poker. That will allow the guests of the country not only to get acquainted with the culture and sights of this Asian state but also have an excellent time for gambling. But this way to round holidays will remain inaccessible for residents.
We note that shortly a sizeable land-based casino will be opened in the country, owned by MGM Resorts International. And the creator was the Canadian company Asian Coast Development. Visiting the casino will be allowed only to foreign guests, while Vietnamese entry will be banned.
In the active development of the country, particular attention is paid to the southern regions, where the main resort areas of Vietnam are concentrated. There is a constant search for new solutions that make these places as attractive as possible for tourists. And the casino is one of them. It’s no secret that gambling houses can provide an increase in the number of guests, including many fans of gambling.
In fact, the appearance of the first casinos in Vietnam was a landmark event, and even, we might say, a kind of curiosity. After all, for a long time in the country, there was a ban on any gambling, let alone the online casino. During the casino activities, gambling houses have proven their effectiveness and the correctness of such a decision. According to statistics, the flow of guests from different countries has grown significantly. And it is connected not only with hospitality, excellent service, and magnificent beaches but also with casino work.
The Vietnamese authorities did not reinvent the wheel but followed the already well-trodden path that China had already overcome. Agreements were concluded with the largest companies and corporations that later built not only the casino itself but also the entire infrastructure (hotels, shopping centers, restaurants and much more). In exchange, they got the right to conduct a gambling business in Vietnam.
To run a single turnkey casino, considerable investment is required. And to find money in that country is not realistic. Of course, over time, the situation may change, and we will probably already see casinos opened by local companies, but at the moment things are as it was said above.
Today in Vietnam, gambling players are ready to host six tourist zones. It is this number that functions today. Citizens of many countries of the world come not only to relax but to play in the casino. A couple of the largest gambling establishments are located next to the Chinese border, which is explained by the constant massive flow of customers from that side.
The ban on visiting casinos for Vietnamese led to the fact that many unlawful casinos began to appear in the country.
To say that underground gambling establishments are dangerous for the economy of the country is wrong. But they provide the growth of crime precisely. Although, of course, an extra penny in the state treasury from tax collection would not be superfluous. Today, of all Asian countries, Vietnam is the safest destination for tourists. Therefore, the fight against illegal gambling halls in the country is underway.
To remedy the situation, as noted earlier, the country’s authorities allowed their citizens to play in an online casino. It is possible that soon they will receive permission to visit land-based gambling establishments. This issue is actively discussed in power circles and is under the control of the Vietnamese Prime Minister. But for foreigners, Vietnam is a great place where you can not only have a good rest but also play casino for money.
To date, there are more than 80 online casinos available in Vietnam, which both residents and visitors can play. All the most popular types of games and slots available.
However, it is not necessary to speak about the complete isolation of Vietnamese from the industry of gambling. Gradually, the authorities weaken the current restrictions and recently allowed citizens to play in an online casino. At the moment this is still an experimental solution, but many of the players believe that they will now have permanent access. Currently, dozen online operators have received licenses in Vietnam.
Without creating the appropriate conditions for future investors and operators, there can be no question of any successful development of the gambling business. That is entirely understood by the authorities of the country. Therefore, they try to make the investment climate in Vietnam as comfortable as possible, without forgetting about the interests of the state.
To attract new companies, changes were made at the legislative level on the part of tax charges on gambling. So, the minimum amount of required investments was reduced significantly to obtain the right to open a casino (up to $3 billion), the interest rate on gambling tax was reduced to 35% from the income.
By such steps, the authorities hope to create competition among casino operators. After all, both taxes and minimum investments were reduced by this law almost twice. Of course, now we should expect the opening of new casinos and, accordingly, the attraction of additional capital to the country. Also in this law, local citizens were allowed to gamble, but with certain restrictions on age and level of monthly income.